If you or someone you know plans on banking in Thailand, the quickest and easiest way is to set up a bank account. As long as you have your passport, there should be no problems. It is advised that anyone living in Thailand do this immediately.

There are a few legal restrictions as long as the money originates from abroad, though you will get a savings account only since checks are rarely written in Thailand and are usually restricted to business transactions using company accounts.

Upon opening your account, you will be given a bankbook and an ATM card will be issued immediately as a standard practice. You ATM card will work at any ATM machine.

You can use any branch of your bank for most transactions such as depositing local checks, but you will find that most of the services available to you are only offered at the branch where you opened the account. The same applies for cashing a check.

You must go to the Branch Manager on the check of the issuing party if you wish to cash a check. For depositing a check, if the check was drawn on your bank, you can withdraw funds immediately, if not, you will have to wait for it to clear, usually in two days. Make sure to bring your passport if you want to withdraw cash at the counter rather than at an ATM.

Transferring Money To and From Thailand

Besides using a credit card, there are other ways of transferring money to and from Thailand. Some require setting up a bank account in Thailand, which is easy and quick.

The major money wiring services are the fastest way to send money (the same day), but also the most expensive. You must go to the location to send and/or pick up the money.

Wiring money from an overseas bank account to your Thai bank account (or vice versa) usually takes one to three days, though sometimes it can take more than a week, depending upon the banks and the system used. It can also be rather expensive.

If you plan to deposit a check written to you personally, try to make sure the check is written to your full name, because your Thai bank account will be in your full name, and branches and central offices have been known to reject deposits without the middle name in it. It depends on the bank and branch.

One of the cheapest ways is to send an international cashier's check or money order which you prepare at a bank. This check should be sent by a registered international courier, e.g., DHL. It is advised that you do not use postal money orders.

To send money or to receive cash, you will need your passport in hand.

There are generally no restrictions on receiving money, but sending money is another matter. Many new regulations were put into place as a result of the 1997 economic collapse and currency speculation which caused the Thai baht to fluctuate and become more unstable.

Transferring money will require an invoice from the remote receiver, and you should bring as much documentation as you can. To convert Thai baht into cash without any other documentation, you will need to bring your plane ticket and your passport.

Another option for sending money quickly and safely is using a new service called atmcash.com. Atmcash allows users to quickly and easily send money from the us to Thailand or enywhere else in the world safely and securly.